FGL (FG) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

FGL (NYSE:FG) released its quarterly earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.07, Briefing.com reports. FGL had a return on equity of 20.91% and a net margin of 20.50%. The company had revenue of $600.00 million for the quarter, compared to analysts’ expectations of $368.89 million. During the same period in the previous year, the business posted $0.28 earnings per share.

NYSE FG opened at $8.28 on Friday. The firm has a market capitalization of $1.88 billion, a P/E ratio of 6.96 and a beta of 1.05. FGL has a 12 month low of $5.93 and a 12 month high of $9.63. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.31.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Friday, May 24th. FGL’s payout ratio is currently 3.36%.

Several brokerages have issued reports on FG. Zacks Investment Research lowered FGL from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd. Citigroup set a $10.00 price target on FGL and gave the company a “hold” rating in a research note on Thursday, May 23rd. Finally, ValuEngine raised FGL from a “strong sell” rating to a “sell” rating in a research note on Friday, May 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $9.65.

In other FGL news, insider Christopher O. Blunt acquired 100,000 shares of FGL stock in a transaction on Monday, March 4th. The stock was purchased at an average price of $8.54 per share, for a total transaction of $854,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy Martin Walsh purchased 10,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were purchased at an average price of $8.37 per share, with a total value of $83,700.00. The disclosure for this purchase can be found here. Insiders purchased a total of 180,000 shares of company stock valued at $1,527,700 over the last three months. 15.10% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of FG. MFN Partners Management LP grew its stake in shares of FGL by 722.7% during the 1st quarter. MFN Partners Management LP now owns 3,000,000 shares of the company’s stock worth $23,610,000 after acquiring an additional 2,635,338 shares during the period. River Road Asset Management LLC grew its stake in shares of FGL by 35.3% during the 4th quarter. River Road Asset Management LLC now owns 4,327,049 shares of the company’s stock worth $28,818,000 after acquiring an additional 1,129,241 shares during the period. Marshall Wace LLP boosted its stake in FGL by 1,339.8% in the 3rd quarter. Marshall Wace LLP now owns 982,670 shares of the company’s stock worth $8,795,000 after purchasing an additional 914,420 shares during the period. Raymond James & Associates boosted its stake in FGL by 193.9% in the 4th quarter. Raymond James & Associates now owns 1,184,430 shares of the company’s stock worth $7,888,000 after purchasing an additional 781,449 shares during the period. Finally, Bank of America Corp DE boosted its stake in FGL by 253.4% in the 4th quarter. Bank of America Corp DE now owns 981,271 shares of the company’s stock worth $6,536,000 after purchasing an additional 703,615 shares during the period. Institutional investors own 69.04% of the company’s stock.

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FGL Company Profile

FGL Holdings sells individual life insurance products and annuities in the United States. The company offers deferred annuities, including fixed indexed annuity contracts and fixed rate annuity contracts; immediate annuities; and life insurance products. It also provides reinsurance on asset intensive, long duration life, and annuity liabilities, such as fixed, deferred and payout annuities, long-term care, group long-term disability, and cash value life insurance.

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Earnings History for FGL (NYSE:FG)

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